Stocks are higher; there’s no clear impetus to point to.Economic news is coming out later today:we have crude inventories at 9:30, minutes from the last FOMC meeting at 1 PM.The API crude report was bullish, and forecasts for rain in the Midwest this weekend are supporting corn and beans.
June S&P:Held a Fibonacci level at 902.38, resistance is at yesterday’s high of 915.75.Momentum is bullish.
June NASDAQ:Breakout setup.Resistance is at yesterday’s high of 1410.50, support is 1387 then 1374.
June Treasury Bonds:Breakout day; resistance is 12203 to 12205; support is at yesterday’s low of 12102.
June Japanese Yen:Narrow range breakout day; 10462 then 10491 are resistance.
June Euro Currency:Bullish; next resistance is at the May 13 high of 13719.Momentum is at a short sale level.
June Canadian Dollar:The May 11 high of 8717 is key resistance.
June Gold:Follow through buying; the recent high at 934.80 is key resistance.
July Silver:The May 13 high of 1437 is key resistance.
July Cocoa:Breakout setup; 2292 is a downside breakout level, 2327 to the upside.
July Sugar:I still think it’s getting ready to sell off, watch yesterday’s low at 1537.
July Crude Oil:Pay attention at 9:30.The May 12 high at 6086 is key resistance, 5975 is support.
August Live Cattle:Held trendline support at 8250, momentum buy day.
July Wheat:Breakout setup.597-2 is trendline resistance, and yesterday’s low at 584 is support.
July Corn:Breakout setup today; 429 then the May 13 high of 434 are resistance, 423-2 is support.
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